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Tuesday, October 27, 2009
Pakistan, Turkey to exempt businessmen from visa
ISLAMABAD: Pakistan and Turkey here on Monday signed a Memorandum of Understanding (MoU) to exempt businessmen of the two countries from visa requirement. Under the MoU signed by the Minister for Interior A Rehman Malik and Turkish Foreign Minister Ahmed Davutoglu, businessmen from the two countries with valid travel documents can visit and stay in each other’s countries without visa for 90 days. The MoU is aimed at further enhancing and developing friendly relations between Pakistan and Turkey and to promote trade ties through facilitation of mutual visits of their businessmen.
Bank of Khyber reports loss
KARACHI: The Bank of Khyber has reported a loss after tax of Rs305.08 million in nine months of the current financial year ended September 30. According to bank’s intimation to Karachi Stock Exchange (KSE) on Monday, the pre-tax loss touched Rs338.31 million during the period under review as loss per share stood at 61 paisa.
Nestle declares Rs10 dividend
KARACHI: Nestle Pakistan has posted a record profit after tax of Rs2.29 billion for nine months ended September 30 and declared a cash dividend of Rs10 per share. According to financial results of the company sent to the Karachi Stock Exchange on Monday, profit before tax also surged to Rs3.17 billion while earning per share climbed to Rs50.55 during the period under review.
Credit rating
By our correspondent
KARACHI: JCR-VIS Credit Rating Company Ltd has assigned the fund stability rating of ‘AA+(f)’ to BMA Empress Cash Fund (BECF). BMA Asset Management Company (BMA) plans to launch the fund, the BECF is structured as an open-end money market fund. The fund is aimed to provide maximum risk-adjusted investment earnings, minimise risk and maintain adequate liquidity.
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ISSN 1563-9479 
